Pratt & Stafford, KS Joint Exploration Projects – 24,000 Prospect Acres
October 11, 2023
Over the past 6 months, Herman L. Loeb LLC has partnered with Thomas Garner Inc. (Parachute Project & Foley Project) and Prater Oil Company (Horace Project) as a non-op working interest owner for a combined 24,000 acre exploration play located in Pratt and a portion of Stafford County, KS. The Parachute project includes approximately 11,000 acres targeting multiple Lansing – Kansas City intervals among other deeper intervals, and has completed the 3D seismic activity in May. Geophysical interpretation is ongoing and we expect to possibly drill 2-3 initial test wells in 2023 for further evaluation. The Horace project is approximately 6,000 acres also targeting multiple Lansing – Kansas City intervals with 3D seismic activity slated for fall 2023 with possible test wells beginning in early to mid-2024. Well depths are expected to be in the 4000-4400 feet range and should not require fracture stimulations. The Foley Project will be approximately 7,000 acres with the final land leasing and 3D seismic planning ongoing with an expectation this will take place in 2024 and into 2025. These projects are in the vicinity of prolific producers / fields with current 3D seismic technology being used to locate bypassed or missed opportunities. Sterling Drilling Company will be the drilling contractor for all wells in the projects. Both Thomas Garner and Prater Oil are local to the area and very familiar with the history and geology of the county.
Pratt County has produced nearly 100,000,000 BBLs of oil over the years (nearly 400,000 BBLs in 2022). The majority of the oil has been produced from the Arbuckle, Simpson, and Lansing series formations. It is also typical of oil wells to also produce marketable associated natural gas (175,000,000 mcf cumulative sales to date). One of HLL’s non-op interest wells drilled in late 2013 has produced 134,000 BO & 73,000 MCF. HLL also operates 4 other leases in the county which have produced a total of 430,000 BO from 10 wells all in the Lansing series.